Luxury car manufacturer, DaimlerChrysler on Thursday, announced the launch of its new retail financing scheme -- Star Extend -- in conjunction with ICICI Bank.
"Owning a Mercedes-Benz becomes much easier now, thanks to this new finance option. You can now repay your car loan over an extended period of 7 years, which makes the monthly outflow more affordable than ever before," said Hans-Michael Huber, CEO and managing director of DaimlerChrysler India.
The scheme is available across all 12 Mercedes-Benz dealerships in India, with immediate effect.
As per the scheme, a C-Class Mercedez-Benz (ex-Delhi) would have an equated monthly instalment of Rs 30,000, while a standard E-Class would have an EMI of Rs 45,000.
"ICICI Bank and Mercedes-Benz have enjoyed strong synergies. This exciting scheme will help strengthen relationships and provide an exciting value-proposition for the discerning car aficionados," said V Vaidyanathan, senior general manager of ICICI Bank.
Star Extend is the third financing scheme made available for Mercedes-Benz customers, with focus on affordability. This scheme comes as a sequel to Star Choice, a financing scheme where 40 per cent of the principal can be repaid as the last instalment of the loan.
"The extended loan tenure of 7 years signifies the confidence of the financer with Mercedes-Benz customers and the inherent strengths of our automobiles" said Suhas Kadlaskar, director (corporate affairs and finance), DaimlerChrysler India.
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